Management Information Systems (MIS) are crucial for businesses to manage their operations efficiently and make well-informed decisions. There are several types of MIS, each serving a unique purpose and playing an important role in the organization.
Transaction Processing Systems (TPS) handle the daily transactions of a business, such as sales, purchases, and payroll. They ensure that these transactions are processed accurately and recorded properly, which helps in maintaining smooth operations and accurate records.
Management Reporting Systems (MRS) use the data collected by TPS to create various reports. These reports help managers understand how the business is performing by summarizing key metrics and trends. MRS helps in tracking progress, identifying issues, and making decisions based on up-to-date information.